How Large Businesses are in Need of a Bigger, Better Microsoft Excel
Microsoft Excel is one of the most utilized programs in business. It offers solid analytics, graphics, and ability to summarize and analyze large amounts of data. With this booming popularity, collaboration has been improved through the addition of the Excel Web App.
However, despite its popularity, there are huge risks using Excel for major accounting and AP tasks. The program doesn’t offer the types of audit trails nor security that any major business requires with these crucial business functions. So how do the experts of business process automation in Pittsburgh respond to this dilemma? Let’s dive a little deeper.
Issues with Microsoft Excel in Large-Scale Applications
Problems with Human Error, Fraud, and Various Employee Abilities
When used for its intended purposes, Excel can be very helpful, but over-relying on its capabilities presents huge risks for businesses using Excel for important financial data. PricewaterhouseCoopers and KPMG analysis reports material errors in more than 90% of corporate spreadsheets, meaning your business could be left susceptible to devastating human error, fraud, or worse due to the lack of automated error checking. Taking the time to complete manual error checks can be a time consuming and difficult process which, in turn, leaves more room for human error.
In addition to accidental human error, fraud is a huge concern as numbers are easily changed without an audit trail to keep tabs on fraudulent activity. With a logistic inability to keep tabs on every employee at all times, most companies crave a way to monitor employees and protect their valuable data and earnings. Additionally, the user experience of Microsoft Excel is not always intuitive for users of different experience levels, meaning a learning curve may exist in new employees.
So many businesses ask - what can we do to mitigate and reduce these issues. How can we keep a watchful eye on our spreadsheets for fraud and error, while reducing the learning curve for new employees with different skill sets?
Answering the Demand to Make Excel Accel
How the Experts of Business Process Automation in Experts Helped Rolls Royce
A better way forward exists for businesses looking to improve how their company uses Microsoft Excel. Real-time applications serve the business more fully by securely integrating with existing systems - including enterprise resource planning, general ledger, scheduling, procurement, contract management and documentation systems.
Organizations who go down this path experience incredible benefits on efficiency, user experience, compliance and security. Take one of our clients - Rolls Royce - for example.The lack of collaborative features in Microsoft Excel created bottlenecks in security, workflow, and version control. For a company as large as Rolls Royce, this hinderance on productivity called for automation and innovation to keep business processes moving efficiently.
Savvior jumped in to mitigate a variety of these problems using business process automation. We created a tactical change and process management application that integrated with SAP data to facilitate a business process which was currently burdened by version control issues and 1000s of lines of unmaintainable excel macros. As a result, Rolls Royce saves millions in modified and missed project deadlines, among other money-saving applications.
Business of all sizes and industries are reaping the rewards of innovating away from Excel, including market-leader Siemens. Interested to see how Savvior can help take your business process to the next level? Get in contact with us for a quote.